Are You an HSA Fanatic Also?

[Yagents]

Well, that's embarrassing. I should have my writer kid edit my posts for clarity. Thanks for responding anyway.

Here's what kind of info I was looking for:
Is an HSA Right for Me? - HSA Bank
HSAcenter - Health Savings Accounts - Health Care and Savings for You and Your Family
The 2nd website is sponsored by Golden Rule Insurance.

I was also trying to ask if anyone has a simple way they frame HSA benefits. Example: There is a way one of the agents on the Senior Forum explains the choice between Plan F and Plan G to clients that moves them to see G is a no brainer, in one sentence. I just used it last week. Maybe HSA's aren't always a no brainer, but in some situations, worth the risk.

HSA's are mostly lower priced than copay plans, and come with tax advantages with the savings account.

Somarco is right that one of the other benefits is now gone. That was max OOP which even copay plans have now. So, that is wiped out.

But, they still have a story for many that are money minded. Welcome to HSA Consumer. The HSA Portal for HSA Owners. Learn how to SAVE and SPEND your Health Savings Account.

EX: Why pay $90/mo extra ($1080), so that you can pay a $30 copay = $120 for that doctor visit if you went once a month. Oh by the way, have same OOP

AND.........
HSA contributions can make a world of difference in reducing income to become APTC eligible. Ex: Age 60 couple pre-retirees with nest egg, eligible for $6000 in APTC if income is less than 400%, but they are right on the borderline, and don't initially take the subsidy, and instead want a potential APTC refund when taxes filed. Let's say income comes in at $66,000 in Jan - April 15th, but since they bought an HSA, they can make a $6000 HSA contribution up to 4/15/15, (technically $8550 with catch up), reduce their income down to $60k, and now get $6k refund in taxes for making a 6k HSA contribution. FREE money if you're client is money savvy (or they have an agent that is) !!

There's your sales idea for the week boys and girls.

HSA's are not for the low income, or CSR crowd, or families with new babies, or someone who frequents the doctor or takes many meds, unless you go for a $3500 100% HSA plan and focus on lower OOP.

 

[jeffdcar]

I have an HSA for the family and love it! Here is my question: At age 65, what are the options for someone w/ cash in their HSA. I don't think you can roll over to an IRA. If at age 65 they purchase Plan F or G they really won't have any co-pays, deductibles other than the $147 on the G. Any tips? thanks!

 

[Yagents]

You can use it tax free for part b and d Medicare premiums for the owner of account. Use it for dental and vision and rx copays. Use it for long term care and L.T.C premiums. Or use it like an I.r.a. after age 65, so it's already an I.r.a.

See I.r.s pub 502 for list
See www.hsaconsumer.com also

 

[Mink]

Does anyone know the easiest way for employees on a group HSA eligible plan to contribute $100/month to the HSA? The group is around 10 employees if that matters.

 

[yorkriver1]

Does anyone know the easiest way for employees on a group HSA eligible plan to contribute $100/month to the HSA? The group is around 10 employees if that matters.

One of the specialty banks that offers employer support for HSA's, like First American Bank would have that resource, like all the help to get payroll deductions set up.